Economy

Institute develops blueprint that can create 5m jobs annually

The Federal Institute of Industrial Research Oshodi (FIIRO) in Oshodi says it has developed an industrial blueprint that can create five million jobs annually.

Ogun generates N500m from high net-worth persons

The Ogun government says it has increased the number of high networth individuals in its tax net from two to 45 and consequently generated over N500 million from them.

NCC says it remitted N133bn to federation account in two years

The Nigerian Communications Commission (NCC) says it has remitted N133bn to the federation account in two years.

NECA faults NBS 2.19% growth, says economy still in recession

The Nigerian Employers Consultative Association (NECA) has faulted recent report by the National Bureau of Statistics (NBS) that Nigeria had exited recession, saying the economy was still in the woods.

Why Nigeria entered recession – ex-finance minister

A former Minister of Finance and one-time High Commissioner to the United Kingdom, Alhaji Abubakar Alhaji, has identified high overheads in governance and other expenses associated with Nigeria’s federal system as the reason why Nigeria fell into recession.

World Bank cuts South Africa’s 2017 growth forecast

The World Bank on Tuesday halved its 2017 growth forecast for South Africa after the economy fell into recession earlier this year.

Statistics essential for Nigeria’s economic growth – Adeosun

The Minister of Finance, Mrs Kemi Adeosun, on Monday said that accurate statistics was vital in the fight against corruption and achievement of the Federal Government’s economic recovery and growth plan.

Prepare for economy without oil – Akande tells fed govt

A former Governor of Osun State, Chief Bisi Akande, has urged the Federal Government to explore other sources of revenue, warning that the income from crude oil will further decrease, especially with the United States and other buyers converting to electric-powered vehicles.

NEPC chief attributes exports rise of 3.2% in Q2 to economic diversification

Mr Olusegun Awolowo, Executive Director, Nigerian Export Promotion Council (NEPC) says Nigeria’s exports appreciation by 3.2 per cent confirmed that the present administration’s economic diversification is paying-off.

Prices of food fall in Asaba

Prices of staple food, including garri, yam and potatoes, have decreased in Asaba and environs, a market survey by the News Agency of Nigeria (NAN) has shown.

Nigerian inflation slows for 7th month in August to 16.01 pct

Annual inflation in Nigeria slowed for a seventh month in August, easing to 16.01 percent, the National Bureau of Statistics (NBS) said on Friday.

Mining, agriculture pushed Nigeria out of recession – Fayemi

Dr Kayode Fayemi, the Minister of Mines and Steel Development, on Thursday identified agriculture and mining as the critical sectors that pushed Nigeria out of recession.

Central bank will support domestic production needs – Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, said on Wednesday the bank would continue to explore further avenues to ensure that interest rates are supportive of domestic production needs.

Why states will continue to owe workers’ salaries – Onigbinde

The co-founder of BudgIT, Seun Onigbinde, has said that some states will continue to owe workers’ salaries because the monthly allocation from the federation account is barely enough to meet their needs.

Fashola threatens to deport Egbin chief over N125bn debt controversy

The Minister of Works, Power and Housing, Babatunde Raji Fashola, has accused the Managing Director/Chief Executive Officer, Egbin Power Plant, Mr Dallas Peavey, of staying in Nigeria without a valid visa and that he has directed the Nigeria Immigration Service to take appropriate action.

Nigeria out of stagnation not recession – Onovo

A former presidential candidate, Chief Martin Onovo, has faulted the National Bureau of Statistics for coming up with a verdict that Nigeria is out of recession.

Nigeria needs data harmonisation strategy – NBS official

An official of the National Bureau of Statistics (NBS), Dr Isiaka Olarewaju, has said that Nigeria would need harmonisation strategy on data gathering to achieve even development.

Recession exit: Don makes case for sustainable growth

A South-Africa-based don, Mr Christopher Ifeacho, says sustainable growth must be maintained to ensure that the Nigerian economy remains out of recession.

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Ebonyi government commences construction work on Redeem Church road

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Pipeline surveillance: Ex-agitators urges federal government to fulfil promise to engage them

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